I will try and let u know thank you @duffymo.
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sunleoNov 6 '12 at 10:17

I tried but there is no classes directory under WEB-INF in eclipse ,I am running in Eclipse IDE, but there is only classes directory available under build.So I put templates/ResourceLoader1.vm under build/classes.Please help me to understand if I am wrong.
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sunleoNov 6 '12 at 10:26

Tell Eclipse to copy your /templates directory and its contents into the WEB-INF/classes when it creates your WAR file.
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duffymoNov 6 '12 at 10:29

Obviously you're using Velocity in a web application. For this, you'd be better off using the VelocityViewServlet that's specifically designed for this kind of usage.

The FileResourceLoader that's used with your configuration has no knowledge of the webserver and contexts and stuff, so the way you've configured it, it would look for a WEB-INF folder at the root of the filesystem your application server is running at.